The debt on an office building in West Los Angeles’ Sawtelle Japantown neighborhood landed in special servicing after the borrower failed to pay it off at its January maturity date, according to Morningstar Credit. The named loan sponsor is family-owned Jade Enterprises’ Albert Taban. The commercial mortgage-backed securities debt totaled $36.5 million when originated a decade ago but has a current balance of about $33 million via three loan pieces. The borrower reached out to lenders to pay the debt, according to recent servicer commentary, but indicated there could be a potential issue as a new loan would fall significantly […]
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